Bellway Sees Stock Surge Amid Positive Housing Market Outlook

The UK housebuilder reports improved trading conditions despite a year of falling profits and revenues.

Bellway's shares rose by 7% on Tuesday, making it the top performer in the FTSE 250, following a positive market outlook.
The company's revenues dropped by 30.1% to £2.38 billion, with pre-tax profits falling by 62% to £183.7 million for the year ending July 31.
The UK housing market showed signs of recovery as mortgage rates eased, boosting customer confidence and demand.
Bellway plans to complete at least 8,500 homes this year, supported by a growing forward order book of 5,144 homes.
The UK government's planning reforms and funding for brownfield development are expected to further support Bellway's growth.